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Ucsf 10, Dda 8, San Francisco 4, Us 2, Amendmented Dda 2, Johnson 1, Pam Simms 1, Chairperson Johnson 1, Chinatown 1, Redevelopment Loan 1, Jesus Christ 1, California San Francisco 1,
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  SFGTV    [untitled]  

    December 3, 2013
    1:00 - 1:31pm PST  

call this meeting to order today is december third at 108. commission members when i call your name commissioner ellington >> present. >> all the members of the commission are present. 2 announcements. the next
scheduled meeting will be a regular meeting on tuesday december 17th. >> announcement for: please be advised electronic devices are prohibited at this meeting. any person responsible for the ringing of or other devices. please be advised the next item
of business is item 4 matters of unfinished business. we have no items. consent and regular agenda. we have no items. the next order of business is item 5-a presumed innocent a lease agreement for block 7 west and the university of california san francisco and housing partners. an to construct 200 affordable units. madam director.
>> good afternoon to the members of the public. thank you for joining us. you approved in june of this year a redevelopment loan. disbursement condition of that loan provided for actual disbursement could only come once you approve the amendmented dda so that action is before you from block 7 and assigning that to mission bay block 7 housing partners and i'd like to ask catherine -- to present this item. >> good afternoon madam chair and commissioners. today we
have one resolution action the approval of 2 documents and lease agreement between ucsf transferring an existing dda to the develop or and basically taking that dda and modifying it to reflect the current project which would -- as the director mentioned it is comprised of chinatown i refer to them as a single developer. mission bay it's located on 4th street north to the south china basin to the north and then block 7 directly abutting to
the east. this is the result of an agreement part of the new medical center in mission bay originally the city and master developer had don't donated 3 acres. this was land that was going to be developed. ucsf
paid a non refundable purchase price. and the original dda allowed ucsf to give first priority to ucsf employees with consideration given to preference hold ers working at ucsf. so in june they basically
paid and released property five million dollars and also the commission approved the agreement and amendment that allows us to have the block 7 go directly to the developer for construction of temporary housing for families going through treatment at ucsf and permitted to assign the original block which still exists to the developer for 200 units on the remaining site of block 7 and ucsf has agreed to prepay under the existing dda a. which is tied to construction of the second phase of the hospital. that won't start
until otherwise would not be due until 2035 onwards. 2.4 million 20 years early ucsf would be allowed to assign the dda to the developer and that amendmented dda would be 25 percent of the units on the block with the 7 west project to give preference to employees of the healthcare institution and liabilities under the dda so as i mentioned this gives us a 2.4 million about 20 years earlier that anticipated otherwise and paid march of this coming year 2014 or as we'll talk about later in the
presentation if we're required to get additional approvals from the board that don't come in until after march 1st ucsf would pay about a month after those approvals came through so the first document you have in front of you is the assignment of assumption of a lease agreement transfers the document in its current dda directly from ucsf to -- with the requirement of prepayment of 2.4 million with an eligibility preference for 25 percent of the units. back in june the original proposal of about 33 percent had preference the commission had expressed concerns about that number so we reduced it to 25 percent so
the second document in front of you once we have gotten that dda over to the developer amending it we would end up with 200 units and because we would now hold the land versus having sold to ucsf that allows us to ground lease it to the developer so the unit. would also comply with the city's affordable housing guidelines first priority for all the units would be given to preference hold ers including those the 25 percent that the public employees would have so if you worked at general
hospital you would get first priority for 25 percent of the units. retail private open space we'll get to more detail about the design in early january. approved a redevelopment loan. no money could be disbursed until the dda is approved. this in conclusion staff recommends approval of both assignment of the original block to the
developer. the developer will come back to the commission in 2014 and permanent financing and a ground lease and construction to start by the end of next year beginning of 2015 and the final determinationses from mission bay from the department of finance have had it over a year now but have committed to work on it and we've been getting questions from them so we know they are actually focussed on it. so that said they have had it over a year so we wanted to build in a backup plan if it looked like it was going to take too long. if they are going to be taking too long we may want to go through a separate process up to them so
we're not hung up. we don't anticipate it will take longer. so what we've done is put together revisions to the resolutions which we handed out to you with red lines recognizing that there there will need to be approvals and approval of these documents are contingent on that we'll be updating both of the actual contracts from what you saw in the contracts include that language and tweak the deal just to recognize that there's additional steps of approval that need to be done before they become finalizes. again, we feel this risk is very low. so they have already blessed our ability for the affordable
housing. so this concludes my presentation i want to recognize other folks in the audience that are here. pam simms from the mayor's housing office. >> thank you very much is there any public comment on this item. all right thank you very much. so we've all seen this topic quite a bit. there's a couple of minor questions and i'll pass out to my fellow
commissioners. i like to start with the small easy stuff so on the resolution or the agreement to assign the dda to the developer, under the resolved clauses -- this is super minor. thank you. the area -- the actual document -- on the second page where it says not obligated to pay yet. so instead of saying.
>> we there's a range of things that may trigger it so we'll include an estimated time of when that may be and then a more policy related question so this is something i notice about the preference program for residents and it didn't jive with my memory and i realize now my memory was wrong so when we look at the after appendix let me say i'm really happy that ucsf was able to negotiate with you guys i think it's a boon to add to the affordable housing. i believe in housing
for workers as well so with that said, i notice that the third item for the categories of preference for the general public and my recollection back in june or july is that it was general san francisco residents and general public and working with the director it seems like maybe that was not actually in a previous document and i wanted to talk about whether or not that's something that can added maybe conditional to approval or something like that. >> thank you chairperson johnson. actually the san francisco workers were included in the committee approval and it was an oversight that it wasn't included in the dda.
>> thank you okay so great. so is that something that's just a simple edit? >> we'll include that in the preference so you have the certificate of preference category one and category 2 and category those who live and work in san francisco and then members of the general public. that was easy and of course all subjected to fair housing laws as well. >> okay. and i think i have one more but i'll open it up in anyone else for comments. >> i just want to add a comment your memory was right. and i'm glad that we can make that change to ensure that we have more housing opportunities for san francisco. >> okay.
>> i'm very pleased to see that we've got such a robust affordable housing project so i'm very excited that this project is moving. >> so the university discussed and investigated a variety of development opportunities to partner with developers and given the depth of subas i sidies required for the housing projects and lack of access to
state tax credit funding, the university concludes that it was not feasible to proceed with the affordable housing projects on block 7. >> thank you. >> okay. we had a question about commission's -- i apologize i thought i had a question about the developer's obligations or how the developers default so we're good. okay. so obviously i think everyone understand that the next big document that we're going to see is the ground lease and that will also answer a lot of our questions as to how this transaction will work but are there any other
questions about the dda or release in assignment so can i entertain a motion? >> i think that i'm sure they will do a good job. they want to move this item. >> excellent. is there a second. thank you very much madam secretary will you call role? >> madam chair johnson. >> 4 ayes and one absent. >> the assumption is that vote goes with the changes that we discussed. thank you very much. madam chair will you call the next item. >> public comments on non agenda items madam chair? >> is there any public comment? we have one?
>> jesus christ. i'm sorry my machine -- anyway i hope everybody had a happy holiday season. unfortunately i wasn't there at the meeting i wasn't there unfortunately i was out of town but i'm here actually requesting respectfully that this agency consider having your next meeting in the western
addition to show good gesture and good faith and good govern practice and it's all good. it would show that you have some sensitivity for our community and you care you hear and you understand and you see what's going down. it would be a great event to have the community involved to show exactly what's going on and show how we can move forward and understand that we're in a dilemma and in a part of history and you see we all see. hopefully you hear and it goes in your ear and in your mind and in your heart. yes, you have the power. on the panel here --